Opportunities involved in being self-employed

Self-employment is a term used to describe people who work for themselves. The person who is self-employed is usually both the employer and the employee. They are their own boss as they have set up their own business and are making money from that business.

There are many opportunities involved in being self-employed. These opportunities can be broken down into financial benefits and non-financial benefits.

Financial benefits include:

Opportunities to make a profit

Money made from the business is profit. The owner of the business could keep all the profit for themselves. This will lead the self-employed person to work hard to earn more profit.

Opportunities to create jobs in the local community

If the business develops and is successful then the self-employed person can hire employees to help the business grow and make more profit.

Opportunities to grow the value of the business

As the business grows and develops and becomes more successful, employees can be hired by the self-employed business owner and hence grow the value of the business. This means that when the business is sold, the self-employed person could make a profit on this sale.

Non-Financial benefits include:

The opportunity to be the boss

When the person is self-employed, they are their own boss and in charge of their own time. They can dictate when to work and how much time to spend working. Also, the opportunity to be one’s own boss will motivate the self-employed person and this can boost their self-esteem and self-confidence.

Opportunities to control the business

When the person is self-employed, they are in control of all the decision-making and the direction of the company/business. They are their own boss and they will make all the

decisions that will help the business to develop further.

Opportunities to enjoy the flexibility that comes with being the boss

When the person is self-employed, they can choose when to work and can enjoy working flexible hours; perhaps even taking holidays when it suits them and the business.

Opportunities to enjoy some job satisfaction

When the person is self-employed and owning their own business, they can try out new ideas and take delight in watching their business grow and work hard to get good customer feedback. This can be rewarding and thus provide the self-employed person with greater job-satisfaction.